Peter Gathungu Gikonyo who is employed by Kaggs Investment Limited denied before Milimani law courts chief magistrate Martha Mutuku he stole the sum within a span period of three months.
Gikonyo was charged that on diverse dates between June 29 and September 1, 2020, being an agent of Kaggs Investment Limited he stole Sh8,684,000.
A defence lawyer applied to the magistrate to free Gikonyo on reasonable bond terms saying he is not a flight risk.
“I know the accused as well as the complainant in this case. Gikonyo is not a flight risk and works for gain in Nairobi,” the magistrate was told.
Mutuku magistrate further heard the accused’s both city and rural residences are well known and therefore cannot skip court attendance.
“I have advised the accused very well on the dangers of not attending court. He has understood,” the lawyer stated.
He has undertaken to abide by the bail terms imposed by the court.
The prosecution counsel Anderson Gikunda was not opposed to the bail plea.
He told the magistrate to consider the amount in the charge sheet.
Mutuku heard Gikonyo stole the money entrusted to him for retaining in safe custody.
“Gikonyo received the money on account of Kaggs Investment Ltd which has put up rental properties within upmarket areas within Nairobi County,” Gikunda told Mutuku.
Gikunda asked the court to consider the amount stated in the charge sheet while setting the bond terms.
He informed the court that he will furnish the accused with all the witness statements and exhibits within a fortnight to enable him prepare his defence.
In her ruling, the magistrate said bail is a constitutional right for all accused persons regardless of the indictment against them.
She proceeded to grant Gikonyo a bond of Sh1 million with one surety with an alternative cash bail of Sh500,000.
Mutuku directed the accused to appear in court on December 3 for pre-trial directions.